The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Discover how general ledgers and general journals work together in double-entry bookkeeping to track financial data accurately and efficiently for your business.

Using the ledger-to-ledger transaction accounting method keeps track of your business activities. Each transaction is analyzed and recorded in the appropriate ledger. With the exception of the general ...